Symmetry group gets SECP approval for IPO

12:55 AM | 6 Jun, 2023
Symmetry group gets SECP approval for IPO

KARACHI - Symmetry Group, a renowned digital technology and experiences company based in Pakistan, specializing in digital products and services, is pleased to announce that it has received approval from the Securities and Exchange Commission of Pakistan (SECP) for its Initial Public Offering (IPO).

This significant milestone allows Symmetry Group to move forward with its plans to launch the IPO and offer shares to the public.

Symmetry Group is a leading player in the digital industry and has been at the forefront of transforming and digitalizing marketing, sales, and other consumer-centric functions for organizations. The Company has received approval for listing on the Main Board of the Pakistan Stock Exchange Limited, paving the way for its IPO.

The IPO will be conducted by the ‘Book Building’ method of offering, where shares are allotted to investors on the Dutch auction method. The offering will consist of 101,240,082 shares obtainable at a floor price of PKR 4.25 per share, including a fresh capital raise of PKR 375. million. Additionally, the Company sponsors, Sarocsh Ahmed and Adil Ahmed will offer shares worth PKR 55 million.

Sarocsh Ahmed, Chief Executive Officer & Co-Founder of Symmetry Group, was enthusiastic about this milestone:

"Symmetry Group is driven by its pioneering legacy of transforming possibilities for businesses and organizations for over two decades. Our customers trust our creativity, innovation, and expertise in producing ground-breaking digital experiences. As we expand our capabilities and strengthen our core, our talented team sustains the trust of our stakeholders.

From seamless digital integration to a reimagined suite of transformative products and services, partnering with us allows businesses to unlock their true potential. With aggressive local and global growth plans, the IPO boosts our financial standing, enabling us to develop cutting-edge, AI-driven products and intellectual properties.

We see this as a reflection of the potential of the digital-tech sector. Together, we can accelerate the growth of Pakistan's tech industry, fostering innovation and creating opportunities. Symmetry Group is committed to driving forward, shaping a future with infinite possibilities transformed."

Symmetry Group recently announced its new Board of Directors, led by Mr Zaheer Hussain Dhodia as Chairman. The board comprises esteemed professionals from the corporate sector, including Ms Musharaf Hai, Mr Muhmmad Najeeb Agrawalla, Mr Jibran Jamshad, Syed Asim Zafar, Mr Adil Ahmed, Executive Director & Co-Founder, and Mr Sarocsh Ahmed, Chief Executive Officer and Co-Founder.

Since its inception over two decades ago with a modest investment of only PKR 150,000, Symmetry Group has emerged as a digital industry leader in Pakistan. With its expertise in digital strategy, transformation, digital commerce, data science, mobility, retail/research, and interactive marketing, the Company offers a comprehensive suite of digital brands and products to assist clients at every stage of their digital journeys.

Symmetry Group's transformative solutions have benefited renowned organizations such as Jazz, Habib Bank Limited, Procter & Gamble, EFU Life Assurance, Digicel (Caribbean), English Biscuit Manufacturers, Martin Dow, Jubilee Life Insurance and many others.

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on Sept 30, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on September 30, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 286.05 289.15
Euro EUR 307 310
UK Pound Sterling GBP 353.3 357
U.A.E Dirham AED 80 80.8
Saudi Riyal SAR 76 76.75
Australian Dollar AUD 189 191
Bahrain Dinar BHD 778.84 786.84
Canadian Dollar CAD 220 222.2
China Yuan CNY 40.24 40.64
Danish Krone DKK 41.83 42.23
Hong Kong Dollar HKD 37.93 38.28
Indian Rupee INR 3.57 3.68
Japanese Yen JPY 1.63 1.71
Kuwaiti Dinar KWD 945.27 954.27
Malaysian Ringgit MYR 62.62 63.22
New Zealand Dollar NZD 174.58 176.58
Norwegians Krone NOK 27.87 28.17
Omani Riyal OMR 762.31 770.31
Qatari Riyal ‎QAR 80.69 81.39
Singapore Dollar SGD 208 210
Swedish Korona SEK 26.62 26.92
Swiss Franc CHF 323.01 325.51
Thai Bhat THB 8.12 8.27

Gold Rate in Pakistan Today – September 30, 2023

Today Gold Rate in Pakistan

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 205,600 on Saturday.

The price of 10 grams of 24k gold was recorded at Rs 176,270. Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

Today Gold Price in Pakistan - 30 September 2023

City Gold Silver
Lahore PKR 205,600 PKR 2,450
Karachi PKR 205,600 PKR 2,450
Islamabad PKR 205,600 PKR 2,450
Peshawar PKR 205,600 PKR 2,450
Quetta PKR 205,600 PKR 2,450
Sialkot PKR 205,600 PKR 2,450
Attock PKR 205,600 PKR 2,450
Gujranwala PKR 205,600 PKR 2,450
Jehlum PKR 205,600 PKR 2,450
Multan PKR 205,600 PKR 2,450
Bahawalpur PKR 205,600 PKR 2,450
Gujrat PKR 205,600 PKR 2,450
Nawabshah PKR 205,600 PKR 2,450
Chakwal PKR 205,600 PKR 2,450
Hyderabad PKR 205,600 PKR 2,450
Nowshehra PKR 205,600 PKR 2,450
Sargodha PKR 205,600 PKR 2,450
Faisalabad PKR 205,600 PKR 2,450
Mirpur PKR 205,600 PKR 2,450


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